Tether (USDT) Statistics in 2024

Tether (USDT), launched by Tether Limited Inc., is one of the most widely used stablecoins in the world. Pegged 1:1 to the US dollar, USDT offers a stable alternative for trading.

Over the years, Tether has expanded across multiple blockchains, including Ethereum, Tron, Solana, Polygon, and Avalanche, making it highly versatile and accessible. Anyone who wants to indulge in stablecoin trading has to know about Tether (USDT), its reserves, circulation, and trading trends.

With that in mind, to help investors understand Tether better, we provide comprehensive insights into its reserves, circulation, demand, and market trends.

Overview Of The Tether(USDT) Statistics

1. Tether (USDT) reached its all-time high price of $1.32 in July 2018.
2. Monthly transactions for Tether (USDT) increased to 163.6 million, marking a 7.56% growth from December 2023.
3. Ethereum and Tron have the largest supply of Tether (USDT).
4. Tether holds a 70% market share of the total stablecoin market capitalization.
5. Tether (USDT) has a market capitalization of $83.6 billion.

Tether (USDT) Pricing

Tether (USDT) is a stablecoin tied to USD, designed to maintain a $1 value with minor fluctuations of $0.01 to $0.02 for short periods.

Although significant changes are not expected, USDT has depegged in some rare instances. For example, in March 2015, it dropped to an all-time low of $0.57, deviating $0.43 from its intended value.

In July 2018, it reached an all-time high of $1.32, a $0.32 increase from its pegged value.

However, the currency has largely remained stable for the last few years and upheld its name as a stablecoin.

Tether (USDT) generally maintains its $1 value, but historical data shows it can occasionally experience significant deviations.

Tether (USDT) In Circulation & Prices: How many Tether USDTs are there?

There are 114.5 billion USDT coins in circulation, with a market cap of $114.4 billion.

As of 2024, Tether (USDT) is the largest and most traded stablecoin, with a 24-hour trading volume of approximately $63.4 billion.

Tether Reserves Backing USDT

As of June 2024, the assets in Tether reserves exceed the total amount the company owes to Tether (USDT) token holders by $5.3 billion ($5,334,337,355).

In the Q2 report, Tether significantly increased its reserves, primarily through direct or indirect ownership of U.S. Treasuries. The reserve value exceeded $97.6 billion, setting a new record.

After summing up all the asset categories in Q2 of 2024, the reserves for total Tether (USDT) tokens in circulation stood at $118,436,336,293.

Tether has surpassed countries like Germany, UAE, and Australia in terms of treasury ownership.

Tether is also the third-largest buyer of 3-month U.S. government bonds, trailing only the United Kingdom and the Cayman Islands. The company’s reserves backing the tokens in 2024 include assets such as:

Asset Category	Amount in USD
US Treasury Bills	80,948,647,984
Overnight Reverse Repurchase Agreements	11,286,972,273
Term Reserve Repurchase Agreements	997,373,133
Money Market Funds	6,355,402,510
Cash & Bank Deposits	109,867,228
Non-US Treasury Bills	72,412,344
Corporate Bonds	17,377,107
Precious Metals	3,814,334,566
Bitcoin	4,734,040,881
Other Investments	3,528,626,010
Secured Loans	6,571,282,275
Total	118,436336,293

In 2023, Tether had $86.4 billion in reserves to support $83.2 billion worth of USDT in circulation, resulting in a backing ratio of 104%. By Q2 2024, Tether’s reserves increased by 37.04%.

In 2023, Tether’s reserves were composed of 68% U.S. government bonds maturing in less than 90 days, 10% short-term loans backed by U.S. government bonds, 1% other short-term loans and non-U.S. government bonds, 10% low-risk investment funds, less than 0.5% cash and bank deposits, and 15% higher-risk investments.

Tether’s increased reserves and diverse investment strategy reinforce its commitment to maintaining a strong backing for USDT.

Tether(USDT) Transaction Statistics

Tether is available on over 15 blockchains, with the largest supplies on Ethereum and Tron. In 2023, these two blockchains averaged 2.16 million transactions, totaling about $13 billion USD.

In December 2023, Tether (USDT) recorded around 127 million monthly transactions.

By April 2024, this number had increased to 163.6 million, reflecting a 7.56% growth. This growth indicates the high popularity of Tether(USDT) stablecoin.

Tether (USDT) Capitalization & Market Share

In 2023, Tether (USDT) was the third-largest cryptocurrency by market capitalization, valued at $83.6 billion, making up 7.5% of the total cryptocurrency market capitalization. By July 2024, its market capitalization had grown 36.4% to $114 billion.

Within the stablecoin market, valued at $130.2 billion, Tether held a 64% share in 2023. Tether’s substantial market share and consistent valuation highlight its dominance and reliability in cryptocurrency.

By August 2024, Tether’s market share increased to 70% in a stablecoin market worth $164 billion.

USDC, another major stablecoin, held a 21% market share. Such data clearly shows the Tether’s significant and expanding influence in the cryptocurrency market.

Number Of Merchants Accepting USDT

Tether (USDT) is the largest stablecoin and has gained users’ trust over the years.

Consequently, over 1,900 companies, services, stores, and websites now accept Tether (USDT) as a mode of payment. Some of the companies that accept Tether (USDT) include:

Tether (USDT) ‘s widespread acceptance as a payment method highlights its reliability and growing integration into various sectors.

Fly Fairly	Dating.com, a leading online matchmaking site operating in over 32 countries, has adopted Tether (USDT) as a payment method.
Parfum Palais	An online luxury platform selling premium perfumes that accepts Tether(USDT) as a mode of payment.
Alternative Airlines	Alternative Airlines is another airline ticketing platform providing access to flights from over 600 global airlines, with Tether (USDT) as a payment option.
Lemo HDTV	Lemo HDTV, a leading North American streaming service, operates in over 25 countries. With a library of over 15,000 channels, including local and international HD and UHD streaming, it’s one of the largest global entertainment providers. You can subscribe to this platform using Tether (USDT).
Time Magazine	Time Magazine, one of the most renowned news outlets, now accepts Tether (USDT) for subscriptions.
HostMeNow	HostMeNow offers comprehensive services, including website hosting, domain names, marketing, and VPNs. Businesses worldwide can now pay for these services using Tether (USDT).
Vertis Aviation	Vertis Aviation arranges luxury travel for celebrities, politicians, and corporate leaders worldwide. The company now accepts Tether (USDT) as a payment option for its services.
Dating.com	Dating.com, a leading online matchmaking site operating in over 32 countries, has adopted Tether (USDT) as a payment method for its services.
GoPure Botanicals	Lemo HDTV, a leading North American streaming service, operates in over 25 countries. With a library of over 15,000 channels, including local and international H.D. and UHD streaming, it’s one of the largest global entertainment providers. You can subscribe to this platform using Tether (USDT).
Argemti	Argemti offers luxury jewelry and wearables, including silver and gold-plated anklets, bracelets, necklaces, rings, chains, and charms. Customers can make purchases using Tether (USDT).

Tether Profits

Tether made a net profit of $6.2 billion in 2023. Of this, $4 billion came from U.S. government bonds, reverse repos, and money market funds, while the remaining $2.2 billion came from other investments.

In 2024, Tether’s performance was even more impressive. By Q2, Tether reached a net profit of $5.2 billion, including an operating profit of $1.3 billion. The company attributes this profit increase to the rising market capitalization of USDT.

Tether USDT Count On Blockchains

As of the last report in June 2024, about $580 million worth of Tether (USDT) has been issued on the TON blockchain.

Out of all the blockchains that support Tether, TON is now the 6th biggest blockchain for Tether issuance, following Tron, Ethereum, Solana, Avalanche, and Omni.

As of July 2024, TON has an authorized USDT of 730 million.

Tron hosts nearly 60.8 billion authorized USDT, while Ethereum and Solana hold 51 billion and 1.8 billion USDT, respectively.

Such integration into multiple blockchains highlights Tether’s widespread adoption, with TON emerging as a significant player among established giants like Tron and Ethereum.

Tether USDT Statistics

1. In June 2024, Tether issued $1 billion in USDT tokens on Tron, increasing its stablecoin supply without incurring transaction fees. (Source – cryptotimes.io)
2. As of June 2024, people in the Philippines can now pay their Social Security System contributions in USDT. (Source – cointelegraph.com)
3. In June 2024, Tether ended its USDT support to Algorand and EOS. (Source – dailycoin.com)
4. About 1.6% of Tether’s transaction volume in 2023 is associated with illicit activities. (Source – bloomberg.com)
5. In 2024, Tether’s CEO revealed that over 300 million people worldwide used USDT as a digital dollar. (Source – beincrypto.com)
6. In 2024, Tether USDT on the Tron blockchain achieved a 24-hour trading volume of $53 billion, surpassing Visa’s daily transaction volume of $42 billion. (Source – dailyhodl.com)
7. According to the June 2024 report, Tether dominates Polygon’s stablecoin market with a market cap of $792 million, showing a 29% growth quarter-over-quarter. (Source – cryptopotato.com)
8. On May 15, Chinese police in Sichuan province arrested suspects in an underground banking scheme. They allegedly facilitated illicit foreign exchange transactions worth about $2 billion in Tether’s USDT. (Source – cryptonews.com)
9. Tether USDT is the first stablecoin to reach a $100 billion market cap. (Source – yahoo finance )
10. In April 2024, Circle’s USDC significantly outpaced Tether’s USDT in trading volume. USDC reached $456 billion, while USDT recorded $89 billion. (Source – ccn.com)